How to Combine 2 HSA Accounts for Greater Savings | HSA Awareness

Combining two HSA accounts can be a smart move to maximize your healthcare savings and streamline your finances. Here's a step-by-step guide to help you merge two HSA accounts successfully:

1. Contact Your HSA Providers: Reach out to both HSA providers to understand their policies and procedures for combining accounts.
2. Check Eligibility: Ensure that both HSAs belong to the same individual or are family accounts that you can combine.
3. Transfer Funds: Initiate a direct transfer or rollover from one HSA to the other to consolidate your funds.
4. Close One Account: Once the transfer is complete, close the empty HSA account as per the provider's instructions.
5. Update Information: Make sure to update your personal details and beneficiary information with the remaining HSA provider.

Combining two HSA accounts can help you avoid unnecessary fees, simplify your record-keeping, and potentially invest your savings more effectively. By following these steps, you can make the most of your health savings for future medical expenses.

Merging two Health Savings Accounts (HSAs) can significantly improve your financial management. To start, it’s crucial to contact your HSA providers, ensuring you're informed about their policies.